In January 2010, Americans consumers carried 609.8 million credit cards, according to "The Survey of Consumer Payment Choice," conducted by Boston's Federal Reserve Bank. That statistic directly translates into a deep market of credit card consumers in need of debt relief and credit repair. A credit repair business can make on average, $4,000 to $10,000 per month, according to Credit Repair Business.net.

Learn the process. Order copies of your credit reports from Annual Credit Report.com or directly from each credit bureau Equifax, Experian or Trans Union. Review each for errors and compose a list, along with an explanation of each error. Dispute said errors with each credit agency reporting the erroneous items. In addition, contact each creditor and request the items be reported correctly.

Determine licensing and bonding requirements. Laws differ in jurisdictions, but in general, a credit repair business has to apply for and obtain a occupational license. In addition, seek a surety bond with a bonding agency. Typically, credit repair businesses must bonded to legally operate. Check with your state's department of business regulation for the specifics of each requirement.

Establish a relationship with the credit bureaus. Contact each credit reporting agency and get the names of the dispute department supervisors and managers. Mail your credit repair business' business cards and brochures to each supervisor and manager along with an introductory letter. Stay in regular contact with the dispute departments and learn their dispute procedures.

Lease office space. Find office space that can accommodate a receptionist, a conference room for consultations, a filing room for client files and an office.

Market your credit repair business. Create and publish a website that contains your mission statement, a summary about the credit repair process, a schedule of fees and your business' contact information. Use social networking sites and pay-per-click ad campaign to drive traffic to your website and distribute fliers in local shopping mall parking lots. Purchase print and radio advertising to target local consumers.

About the Author

Owen Richason grew up working in his family's small contracting business. He later became an outplacement consultant, then a retail business consultant. Richason is a former personal finance and business writer for "Tampa Bay Business and Financier." He now writes for various publications, websites and blogs.